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How did you reach Master's level without coming up with your own ideas (at least indicate what interests you)? The reason why I say this is that you're really asking a broad question. What interests me wouldn't necessarily interest you. And one of the important things about a thesis is that you better be interested in the topic to carry you over the amount of work that you'll have to put into it. So perhaps you could narrow that part down a bit (as in intrusion detection, honeypots, exploits, spyware, virus/worms, social engineering, phishing, etc. -- is there an area that is more interesting to you than others?)

Have you talked with your program advisor? And have they laid out what the requirements are (kind of research thesis, etc.). Perhaps a survey into how wide-spread spyware really is? how effective is/are firewalls today? how security savvy are admins (really?)?

As for cutting edge, it'd only be "cutting edge" if you design it yourself (i.e., programming say a honeypot or some such thing). Otherwise, research based on activities of others will be one step behind what goes on.

Yes, you're right. i should have made it more specific! within the last 10mins i decided upon one! woo

"technical architecture for secure information sharing between nodes on a GRID network" GRID computing has been one of my interests for a long time. so it formulated slowly into that..encryption algorythms are also one of my interests so i think its quite apt!.

thank you very much, your message gave me some direction which is a bonus because i was starting to go insane.